Milden Company is a merchandiser that plans to sell 35,000 units during the next quarter at a selling price of $56 per unit. The company also gathered the following cost estimates for the next quarter:

Cost	Cost Formula
Cost of good sold	$26 per unit sold
Advertising expense	$183,000 per quarter
Sales commissions	6% of sales
Shipping expense	$57,000 per quarter + $4.00 per unit sold
Administrative salaries	$93,000 per quarter
Insurance expense	$10,300 per quarter
Depreciation expense	$63,000 per quarter

Required:

1. Prepare a contribution format income statement for the next quarter.

2. Prepare a traditional format income statement for the next quarter.